The Independence of Fantom Foundation’s Treasury
It is reported that the Fantom Foundation said on Twitter that the reserve treasury of the Fantom Foundation has no direct contact with any American institutions, nor does it manage or handle any third-party funds.
Fantom Foundation: The reserve treasury has no direct contact with any American institution
Analysis based on this information:
The world is rapidly moving towards decentralization, and cryptocurrencies like Fantom are at the forefront of this revolution. The Fantom Foundation is a blockchain platform that is aimed at providing infrastructure for decentralized finance (DeFi) and enabling people to create their own applications on the platform. With its impressive capabilities, the Fantom Foundation has been making headlines lately, especially with the announcement of its new upgrade, Go-Opera.
However, as with any blockchain-based platforms, security and transparency are crucial for the success of the platform. Thus, it is essential to know who manages the funds of Fantom if the platform is to gain trust from its users. Recently, the Fantom Foundation made a statement on Twitter to clear the air on its reserve treasury.
According to the Foundation, the reserve treasury has no direct dealings with any American institutions and is not responsible for handling any third-party funds. This statement is a bold move that speaks to the independence of the reserve treasury and the foundation’s commitment to transparency with its users.
The fact that the reserve treasury has no direct contact with any American institutions highlights the Foundation’s loyalty to its mission. The United States has different regulations and laws regarding cryptocurrencies, and some countries regard digital assets as an alternative to traditional currencies. By limiting its dealings with any American institutions, the Fantom Foundation can stay true to its mission of providing decentralized finance services and avoiding any possible legal complications that may arise.
Furthermore, the statement also highlighted that the reserve treasury does not manage or handle any third-party funds, whether from the users or the foundation’s partners. This announcement indicates that the reserve treasury is independent of any external influence and is not responsible for any other organization’s financial affairs.
In conclusion, the independence of the reserve treasury is a commendable move by the Fantom Foundation. It is evidence of the Foundation’s commitment to transparency and security. This statement also highlights the importance of decentralized finance, which is gaining popularity among investors and businesses worldwide. Overall, the reserve treasury’s independence is a positive step towards building trust and confidence in the Fantom platform.
This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/daily/7439.html
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Related recommendations
-
Google CEO Warning: Do not hastily deploy artificial intelligence without regulation
On April 17th, Alphabet and Google CEO Sundar Pichai stated in an interview on Sunday that the process of promoting the adoption of artificial intelligence technology must be stric
-
The leader of the Hong Kong Web3Hub fund has suggested that the Monetary Authority issue digital Hong Kong dollars in the form of “stable currency”
On April 11th, it was reported that Wu Jiezhuang, co founder of G-Rocket, a startup accelerator, led the establishment of the Hong Kong \”Web3Hub\” fund this week. He stated that he
-
Animoca Brands Japan invests in Passion Labs to enhance customer experience
On February 24, Animoca Brands Japan announced that it had invested in Passion Labs, a platform that provides customer experience and community participation t…
-
#Table of Contents
According to reports, the Federal Reserve\’s Bostick: It is expected to raise interest rates again; The economy still has a lot of momentum and inflation is too high. There is still
-
Why does Sia keep changing wallet addresses?
Why does Sia keep changing wallet addresses? Why does Sia keep changing wallet
-
How the US Government’s Policy Actions are Affecting the Banking Industry and the Future of Economic Credit
On April 16th, US Treasury Secretary Yellen stated in an interview that the policy actions taken by the US government to curb the systemic threat caused by the collapse of Silicon
-
Alchemy Pay and ZD Group Partnership Promotes Financial Licensing and Encrypted Payment Solutions
According to the official announcement, the encrypted payment gateway announced that it had cooperated with the parent company of the global investment fund Mouette Securities, ZD Group. Under this strategic cooperation framework, ZD Group provides Alchemy Pay with investment and shares four financial licenses authorized by the Hong Kong Securities and Futures Commission (SFC) and the Insurance Industry Regulatory Authority (IA), while Alchemy Pay promises to provide encrypted payment solutions for all businesses of ZD Group. Encrypted payment gateway Alchemy Pay cooperates with ZD Group to share its four Hong Kong financial licenses Analysis based on this information:Alchemy Pay and Mouette Securities’ parent company, ZD Group, announced a strategic cooperation framework that includes ZD Group’s investment in Alchemy Pay and sharing four financial licenses authorized by the Hong Kong Securities and Futures Commission (SFC) and the Insurance Industry Regulatory Authority (IA). In return, Alchemy Pay promises to offer encrypted payment solutions for all businesses of ZD Group. This partnership marks…
-
Chipper Cash shrinks workforce by one-third
On February 20, Chipper Cash, an African cross-border payment platform, laid off 12.5% of its staff ten weeks ago, and nearly one third (about 100) of its staf…
-
What is the meaning of lp token?
What is the meaning of lp token? According to official sources, lptoken (points
-
What is the 1 inch exchange (incognito exchange)
What is a 1 inch exchange? 1 inch exchange is currently the most popular decentralized trading platform on the market 1inch was launched in November 2018 to provide users with a safe and efficient one-stop digital asset trading service, while allowing users to exchange various Cryptocurrency into Ethereum tokens through smart contracts and automated Market maker (AMMs). Unlike other DEX, 1inch adopts an order book model to accurately reflect the price information of tokens in the liquidity pool. Therefore, users can view price changes and provide quotes at any time To further understand what a 1 inch trading platform is, let’s first introduce 1 inch. 1 INCH is a decentralized trading protocol that uses on chain data to measure market conditions. 1INCH can help you compare the prices of any ERC20 token in the market and the token balance on 1inch. For example, you can exchange tokens from 1 INCH to 10 INCH.exchange; You can also choose products that are…